Is revenue stamp still valid in India?
Before and after independence, India has been a big consumer of revenue stamps. Revenues were originally produced in the mid-nineteenth century, and they continue to be issued now. To collect taxes or fees, the revenue stamp is utilised.
What is the value of revenue stamp in India?
The cost of a revenue stamp is Re 1 for each stamp. Nowadays local shops and some online shopping portals also keep revenue stamps and sell them at a higher price than the post offices. It is advisable to buy it from the post office to avoid chances of getting fake stamps.
Is revenue stamp and postal stamp same?
While revenue stamps often resemble postage stamps, they are not normally intended for use on mail and therefore do not receive a postal cancellation. Some countries such as Great Britain have issued stamps valid for both postage and revenue, but this practice is now rare.
Is revenue stamp can be sold?
But still, revenue stamps are available for purchase at local post offices. The price of a revenue stamp is one rupee per stamp. Local stores and some online shopping sites now stock revenue stamps and sell them for a premium price to post offices.
Why revenue stamp is used?
Revenue Stamps are used to collect fees or revenue for maintaining courts. There was a law called e Indian Stamp Act 1899. This law was amended for 51 times since 1899 to 2004.
How many types of revenue stamps are there?
5
Judicial stamp are used for transactions with judiciary. Denominations : Rs. 25, 30, 40, 50, 60, 75, 100, 200, 300, 500, 1000, 3000, 5000 and 25000/-.
…
Lakshman Thodupunoori.
| 1 | Judicial stamps |
|---|---|
| 5 | Revenue stamps |
| 6 | Special Adhesive stamps (Labels) |
| 7 | Notarial stamps |
| 8 | Foreign Bill stamps |
Why revenue stamp is required?
What is the price of revenue stamp?
You can get the stamp from your nearest post office 100p each stamp. So 30 stamp = Rs30 but they are taking 95 for 15. The original price is 1 ruppee for one stamp.
What is the minimum amount for revenue stamp?
Affixing of revenue stamp is necessary only if the amount on any of the receipt is for more than Rs. 5,000/-.
Is revenue stamp banned in India?
The government has decided to ban revenue stamps (Re 1-Rs 10 denomination). A notification to this effect will be issued shortly,’’ revenue minister H C Srikantaiah told the Times News Network.
How much is the revenue stamp?
In view of the amendment of Schedule I, to the Indian Stamp Act 1899, the one-rupee stamp is required to be affixed on any receipt, the amount or value of which exceeds Rs 5,000. This amendment has come w.e.f. 10.09. 04.
How can I sell my old stamps in India?
9 ways to sell your stamp collection
- Stamp magazines. The reputable publication ‘Stamp Magazine’ (above) is available from larger newsagents and the classified advertising section will help you to locate dealers and collectors who offer a valuation service.
- Stamp fairs.
- Philatelic Traders Society.
- Sell at auction.
Is signature required on revenue stamp?
The Stamp Duty is paid by means of a Revenue Stamp. The Receiver of Cash exceeding Rs. 5,000/- must affix a Revenue Stamp of Re. 1/- and sign across the stamp, thereby cancelling the stamp.
Is revenue stamp necessary?
Banks do not insist on a revenue stamp on cash receipts or withdrawal payments, but they do in case of payments (in cash or even on credit to a saving bank account) on redemption of a fixed-term deposit or bonds or Post Office saving instruments.
How do I find the value of my stamps?
How to Determine Stamp Values
- Identify the stamp.
- Find out when was the stamp issued.
- Know the stamp’s age and material used.
- Determine the centering of the design.
- Check the stamp’s gum.
- Determine the condition of the perforations.
- See if the stamp has been cancelled or not.
- Find out the rarity of the stamp.
Who will buy my stamp collection?
If you know you have rare stamps, you can sell them through several means:
- Local Dealer: Dealers handle both collections and individual stamps.
- Mail Order Dealer: If you’re not going local, consider working with a mail order dealer.
- American Philatelic Society Circuit Sales:
- Auction House:
Where do I paste revenue stamp?
Under section 30 of Indian Stamp Acts 1899, the recipient of above Rs. 5000, shall mandatorily acknowledge the payment with a receipt affixing one Rupee revenue stamp on it as a proof of payment.
You are here:
- Home.
- Legal and Regulatory aspects of banking.
- Where the revenue stamp is…
Which old stamps are worth money?
21 most valuable stamps in the world
- Mauritius 1847 Post Office Stamps: $12,760,600.
- British Guiana 1856 1 Cent Magenta: $11,601,700.
- Benjamin Franklin Z Grill: $4,441,000.
- Swedish Treskilling Yellow: $4,238,000.
- Sicilian Error of Color: $2,570,600.
- Two Penny Blue: $2,322,400.
- The Whole Country Is Red: $2,302,700.
What is the best place to sell stamps?
After all, there’s a community of stamp collectors around the world. So, if you want to make quick money, you can always sell your old stamps to these avid collectors.
The Best Places To Sell Old Stamps For Cash
- Sotheby’s.
- Warwick & Warwick.
- West Coast Stamp Company.
- eBay.
- Mercari.
- Sandafayre.
- Mystic Stamps.
- Apfelbaum.
How do I know if my stamps are valuable?
How to Determine Stamp Values
- Option 1: Find out the Stamp Values by Yourself. Identify the stamp.
- Option 2: Check out a Printed Reference.
- Option 3: Research the Stamp Values via the Internet.
- Option 4: Attend a Stamp Show.
- Option 5: Find out the Stamp Values via a knowledgeable Stamp Expert, Dealer or Appraiser.
Is a receipt valid without a stamp?
Tax Amendment Bill passed – revenue stamps no longer required on retail receipts. Business owners are no longer required to affix revenue stamps to receipts for retail purchases.
How can I sell my old stamps?
Ways to sell your stamps
- Using a stamp dealer. It is vital to understand that dealers are often also collectors in search of a bargain.
- Stamp fairs.
- Stamp Magazine.
- Selling stamps on eBay.
- Donating stamps to a charity.
- Selling stamps at auction.
- Selling stamps by Private Treaty Sale.
What stamps are rare?
World Post Day | 10 of the world’s rarest stamps
- British Guiana 1 cent Magenta, 1856.
- Treskilling Yellow, Sweden, 1855.
- The Sicilian Error of Colour, 1859.
- Blue & Red Penny Mauritius, 1847.
- Baden 9 Kreuzer Error, 1851.
- The Inverted Jenny, 1918.
- 3c George Washington w/ B Grill, 1867.
- Tiflis Stamp, 1857.
Which stamps are worth money?